DEDUCTIONS U/S 80C TO 80U
1. Sec 80C- For individuals and H.U.F (i) Regarding payment of LIP; contribution to PF, PPF, etc (ii) Deduction up to Rs. 100000
2. Sec 80CCC- for individual (i) Regarding contribution to Pension Fund. (ii) Deductions; Rs 100000 maximum
3. Sec 80CCD- for individual (i) Regarding contribution to pension scheme of central government. (ii) Deduction: up to 10% of salary contributed by employee = up to 10% of salary contributed by the employer
4. Sec 80CCE- for individual (i) Regarding deductions u/s 80C, 80CCC and 80CCD, (ii) Deduction; up to Rs 1,00,000
5. Sec 80D: for individual and H.U.F Medical insurance premium paid by any mode of payment other than cash for insurance of his health or health of his spouse or dependent children up to Rs 15000+ parent(s) up to Rs 15000, member of H.U.F up to 15000, in case of senior citizen deductable up to Rs 20000.
6. Sec 80DD: for individuals and H.U.F resident in India (i) Regarding (a) expenditure on medical treatment, training and rehabilitation of a disable dependent or/and (b) Amount paid under any scheme framed by the LIC or other insurer etc. (ii) Deduction: Disability Rs 50,000, (b) severe disability Rs 75,000. 7. Sec 80DDB- for individual and H.U.F resident in India (i) Regarding medical treatment. (ii) Deduction; (a) Amount paid or Rs 40,000, whichever is less; (b) For senior citizen- amount paid or Rs 60000, whichever is less. From the aforesaid amount, the amount received from an insurer or reimbursed by employer shall be deducted and the balance shall be allowed.
8. Sec 80E; for individual (i) Regarding payment of interest on loan taken for higher studies of self, spouse or children. (ii) Deduction; amount paid.
9. Sec 80G: for all assesses (i) Regarding donation to approved funds or institutions in the form of a sum of money. (ii) Deduction: 50% and in certain cases 100% of the qualifying amount of donation.
10. Sec 80GG; for individuals (i) Regarding expenditure on house rent in excess of 10% of T.I, by self employed persons and salaried persons not getting H.R.A. (ii) Deduction; maximum 25% of total income or Rs 2000 pm., whichever is less.
11. Sec 80GGA: for all assesses (i) Regarding payment made to a Scientific Research Association or to a University or College etc. for scientific research or social or statistical research or to an association or institution engaged in any program or rural development or of training persons for such program (ii) Deduction: 100% of the amount paid.
12. Sec 80GB: for Indian companies (i) Regarding contribution to political parties (ii) Deduction: 100% of sum paid
13. Sec 80GGC: for all assessee except local authority, juridical person and Indian company. (i) Regarding contribution to political parties. (ii) Deduction: 100% of sum paid.
14. Sec 80-1A (i) Regarding infrastructural facility. (ii) Deduction: 100% of profits up to first five assessment years and 305 of profits for the next five assessment years in case of telecommunication services, other 100% of profits for ten assessment years.
15. Sec 80IAB (i) Regarding profits from development of Special Economic Zone. (ii) Deduction: 100% of profits for ten consecutive assessment years.
16. Sec 80-TB (i) Regarding profits of new industrial undertaking, ship or hotel business etc.
17. Sec 80-IC (i) Regarding profits from enterprise in special category States. (ii) Deduction: in certain cases 100% of profits for initial ten assessment years:; (iii) In other cases: 100% of profits for initial five assessment years and next five assessment years- company @ 30% and other @ 25%.
18. Sec 80(II). (i) Regarding business of hotels and convention centres in specified area. (ii) Deduction: 100% of profits for five consecutive assessment years.
19. Sec-TE (i) Undertakings in North-Eastern States. (ii) Deduction: 100% of profits for ten consecutive assessment years.
20. Sec 80JJA : for any assessee (i) Regarding profits from business of collecting and processing of bio degradable waste etc. (ii) Deduction: 100% of such profits for initial five assessment years.
21. Sec 80JJAA: for an Indian Company engaged in the manufacture or production of article or thing (i) Regarding employment of new workmen. (ii) Deduction: 30% of additional wages paid to the new regular workmen employed by the assessee during the previous year.
22. Sec 80LA: For a scheduled Bank etc. (i) Regarding income of offshore banking unit etc. (ii) Deduction: 100% of such income for five assessment years and thereafter 50% of such profits for five assessment years.
23. Sec 80QQB: individual (author) resident in India (i) Regarding royalty in respect of books. Deduction: Up to Rs 3,00,000
24. Sec 80RRB: Individual(patentee) resident in India (i) Regarding royalty in respect of patent. Deduction: up to 3,00,000
25. Sec 80U; for Resident individuals (i) From income of disable person (ii) Deduction: (a) Disability Rs. 50,000 (b) Severe disability Rs. 100000
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